Metropolitan Statistical Area (MSA):
Bartlesville, OK is a Metropolitan Statistical Area (MSA) comprising counties including .
The Bartlesville, OK metropolitan statistical area (MSA) is located in the northeastern part of the state and includes Washington County. The MSA had a population of 36,216 as of the 2010 census. The median home value in the MSA was $131,100 in 2017, and the median household income was $50,471.
The housing market in the Bartlesville MSA has been strong in recent years. Home values have increased steadily since 2013, and the median home value in 2017 was 8.6% higher than it was in 2013. The number of homes sold has also increased steadily over the past few years, reaching a five-year high in 2017.
There are several factors that have contributed to the strong housing market in Bartlesville. One is that the economy has been doing well overall. The unemployment rate in Oklahoma was 4.3% in December 2017, which is below the national average of 4.7%. This means that more people are employed and have money to spend on a home purchase or rent. Additionally, interest rates remain low by historical standards, making it easier for people to afford a mortgage payment.
Another factor that has helped to boost the housing market is an influx of retirees moving to Bartlesville from other parts of Oklahoma and from out-of-state. Many retirees are attracted to Bartlesville because of its low cost of living and its proximity to Tulsa, which offers more amenities than most small towns. Additionally, retirees often have more disposable income than younger adults and are more likely to downsize into a smaller home or condo after their children move out on their own. This creates demand for housing units that might otherwise be vacant or underutilized (such as second homes).
Overall, the future looks bright for real estate in Bartlesville MSA . The combination of a strong economy , low interest rates , and an influx of retirees should continue to support healthy growth in both home prices and sales volume .